Michigan Chemical Company Alleges Bank’s Fault in Employee’s $880K Embezzlement Case
Portage, MI — In a legal battle that underscores the vulnerabilities in financial transaction systems, Michigan-based Beaver Research Company is suing Huntington Bank. The chemical company alleges that lapses in the bank’s system facilitated an embezzlement scheme by one of its own employees, resulting in a loss of over $880,000. The lawsuit, initially filed in Kalamazoo County before being transferred to the U.S. District Court for the Western District of Michigan, claims the bank’s system gaps enabled the former employee to divert company funds to her personal account. This redirection of payments was masked to … Read more